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I think that competition will always be the case. Retail doesnt compete with HFTs and institutions per say. They play the market so I'm not sure why you say retail can't make aplha with the tools available. As you know the tools are FAR superior then they were 10, 20, 30 years ago? ESPECIALLY for the retail trader! I'll definitely say the BARRIER to entry is SO low now you really dont need to invest to much time and effort to do alot of damage in a short period of time.
Here again not sure why you say a retail trader can't make aplha. Maybe you mean the average retail trader long term? Cause I think the stats say something like over %95 of retail traders are gone in the first five years anyway.
Retail traders are hopefully TRADING with a TINY portion of their overall equity but my guess is that alot of them are not here to try to match alpha anyway. Or at least thats not there conscious goal.
Fund managers can barley do it! But retail traders have SO much flexibility I think it should be more possible for them... not more LIKELY... but more possible. Totally agree with everything else.
Yeup. Anyone with a great knowledge in a skillset immersed in the flow of it can relate to this feeling. Great description!
If you run a portfolio its pretty much essential.
THIS IS EXACTLY HOW I TRY TO TRADE! The words in my journal from day one explain this. Yet very hard to follow!
I don't add or change to long-term but thats me. I try to make the decisions BEFORE the trades goes on as well for all my levels and I try to stick with them after the trades are on. (I like to annotate right on my screen so I can't fool myself)
Again in the flow. Or he relies on simplistic measures that make mathematical sense. Lol
True.
I agree with this. The more you can trade the more sample sizes you can pull from in actual experience. Can't learn that from a book.
I think capital preservation should be front and center. I use wide stops for capital preservation. I've noticed that tight stops drain my capital without enough of the monstrous wins to offset the losers. But again thats just me.
Yeup... thing about that DAMN future is ya never know what its gonna do next
Both Fed Chairman Bernanke’s remarks yesterday and President Obama’s speech last night about his jobs plan; combined, failed to reassure the market that a solution to the country’s economic woes was at hand, and the …
I mentioned the spoos thread because it's tigertrader's main thread. He dips in and out of it, as do a number of others. If you've liked his stuff, it's where he's currently posting, for the most part anyway.
Everyone will have their own way, and should stick with what works for them, and of course refine it, adapt it to changing conditions, and sometimes change it, always based on their own judgment. But it is also a good idea to see what else is being done. Otherwise, we're just talking to ourselves.
But if you liked the "floored" thread, the spoos thread is where tigertrader is currently posting, at least on FIO. After a long layoff, I might add, and we're glad to have him back.
As to trading styles, one guy will say, "Hey, I'm doing this," and another will say, "Hey, I'm doing that," and both (or either, or neither for that matter) may learn something from the exchange.
One simple trick is to listen to the people who are making some money. Whether you ever trade their way, it's useful to know what they are doing....
And definitely follow your own way. It's the only thing you'll ever do anyway.
I still recommend the spoos thread. I've learned from it, as have a whole lot of people.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
I appreciate the heads up. Tigertrader clearly has some great real world experience I cannot even imagine and am lucky to be able to follow if he drops something that might prove useful.
I am never going to dismiss anyones trading style because I do believe we are all constantly learning and I can find something in almost anything.
I like the... if we dont listen to others we're just listening to ourselves comment and the "your going to do it anyway". Lol. Both statements are so true!
I randomly stumbled upon this thread, because one of the posts was talking about the correlation between 6E and ES, after reading a few posts, I scrolled all the way to the beginning and read every single post.
As a screen-only trader who's always heard legend & stories about the pit, this was an amazing journey into the past. This is a must read for every new trader, not just because of the interesting bits about the evolution of the futures market, but because of all the problems that pit traders were facing back in the day that are still relevant today.
I've already watched all the shows & documentaries that were mentioned in this thread, but @tigertrader paints a very different picture. I'm honestly a little ashamed that I wasn't aware of the benefits that locals had. I always assumed that it was hard to transition from the pit to screens because locals no longer were able to read the top market participants as they weren't right next to them. I never knew that locals were able to sell the offer & buy the bid, and I assumed that brokers & locals were as separated as they are now.
I vote with both hands for this thread to be stickied in the traders hideout section, every futures trader should read it.
Both Fed Chairman Bernanke’s remarks yesterday and President Obama’s speech last night about his jobs plan; combined, failed to reassure the market that a solution to the country’s economic woes was at hand, and the …
The spoos thread was an active trading thread over the years with some very heavy hitters discussing their trading, including tigertrader and Big Mike, and some others who don't post trades that much any more. It's no longer really active, but neither is this thread either. It's still worth reading.
You'd have to join as an Elite member to get to it, but this kind of thing is what the Elite section is for -- it's not to get your hundred one-time bucks, or whatever Mike is charging now.
Anyone who likes the non-Elite part of the forum, and who thinks, "Who needs indicators and downloads and whatever they have over there," is missing something. Much of what goes on in the forum is over there. (Last week, Elite members made 78% of the new posts -- obviously, not just in the Elite section, but still, that's the active group here.)
I don't get paid to say this, by the way. And not even to moderate and throw spammers off the forum and all the rest. I actually think it's worth it to have this nexusfi.com resource.
It's helped me, for sure.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote